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Broadridge Reports Second Quarter Fiscal Year 2013 Results

Reaffirms Full Year Guidance

LAKE SUCCESS, NY -- (Marketwire) -- 02/07/13 -- Broadridge Financial Solutions, Inc. (NYSE: BR) today reported financial results for the second quarter of its fiscal year 2013. For the three months ended December 31, 2012, the Company reported revenues of $493 million, GAAP net earnings from continuing operations of $16 million, Non-GAAP net earnings from continuing operations of $22 million, GAAP diluted earnings per share from continuing operations of $0.13 and Non-GAAP diluted earnings per share from continuing operations of $0.17. This compares with revenues of $480 million, GAAP net earnings from continuing operations of $7 million, Non-GAAP net earnings from continuing operations of $19 million, GAAP diluted earnings per share from continuing operations of $0.05 and Non-GAAP diluted earnings per share from continuing operations of $0.15 for the comparable quarter of the previous fiscal year.

Our fiscal year 2013 Non-GAAP results exclude the impact of Acquisition Amortization and Other Costs and restructuring charges. In addition, our fiscal year 2012 Non-GAAP results exclude the impact of Acquisition Amortization and Other Costs, an impairment charge, and IBM Migration costs. The significant Non-GAAP adjustments to our results are described in more detail below.

Commenting on the results, Richard J. Daly, Chief Executive Officer, said, "Overall, I am satisfied with our second quarter results. For the quarter, our recurring revenues grew 3% in an ongoing challenging market environment. Although our sales pipeline is as strong as ever, I am not satisfied with our year-to-date recurring revenue closed sales results which were down approximately 45% compared with last year. This is primarily due to a longer than anticipated sales cycle for pending transactions with revenue greater than $5 million. During the first half of the year, we did not close any sales with revenue greater than $5 million, compared to the same period last year when we closed $22 million of such large sales." He continued, "Due to the seasonal nature of our business, the first half of the fiscal year generally contributes less than 20% to our annual earnings results." Mr. Daly concluded, "We expect to achieve our full year guidance as a result of our strong sales pipeline including the large pending sales, 99% client revenue retention rate, the leading market position our brand and products enjoy, and our continued commitment to drive cost efficiencies through the organization. With the long and difficult exit from the Clearing business behind us and event-driven revenues stabilized near their historical lows, moving forward, we are highly confident that our clear and executable strategy will create shareholder value across both our business segments."

Financial Results for Second Quarter Fiscal Year 2013

For the second quarter of fiscal year 2013, revenues increased 3% to $493 million, compared to $480 million for the comparable period last year. The increase was driven by a positive contribution from recurring fee revenues of approximately $9 million including net new business (defined as closed sales less client losses) and higher distribution revenues of $3 million. GAAP pre-tax margins from continuing operations of 5.0% increased compared to 2.2% for the same period last year primarily due to the impact of the $10 million impairment charge on the Penson Worldwide, Inc. ("Penson") common stock and $4 million of IBM Migration costs in the prior year. Non-GAAP pre-tax margins from continuing operations were 6.9% compared to 6.3% for the same period last year.

For the second quarter of fiscal year 2013, GAAP net earnings from continuing operations of $16 million increased 132%, compared to $7 million for the same period last year, primarily due to the impact of the aforementioned Penson impairment charge and IBM Migration costs in the prior year. Non-GAAP net earnings from continuing operations were $22 million. GAAP diluted earnings per share from continuing operations increased to $0.13 per share, compared to $0.05 per share in the second quarter of fiscal year 2012. Non-GAAP diluted earnings per share from continuing operations were $0.17 compared to $0.15 in the second quarter of fiscal year 2012. The Penson impairment charge and IBM Migration costs decreased GAAP diluted earnings per share by $0.05 and $0.02, respectively in the prior year.

Analysis of Second Quarter Fiscal Year 2013

Investor Communication Solutions

Revenues for the Investor Communication Solutions segment increased $10 million, or 3%, to $327 million in the second quarter of fiscal year 2013 compared to the second quarter of fiscal year 2012. Higher recurring fee revenues contributed $7 million and higher distribution revenues contributed $3 million. The positive contribution from recurring fee revenues was driven primarily by net new business and internal growth. Operating margin increased by 1.7 percentage points to 5.0% as a result of higher recurring revenues and cost containment efforts.

Securities Processing Solutions

Revenues for the Securities Processing Solutions segment increased $3 million, or 2%, to $164 million in the second quarter of fiscal year 2013 compared to the second quarter of fiscal year 2012. The increase was driven by net new business offset by lower trade volumes and the decline in revenues resulting from the new outsourcing services contract with Apex Clearing Corporation ("Apex") replacing the terminated outsourcing services contract with Penson. Operating margin decreased, as expected, by 0.3 percentage points to 12.2% as a result of revenue mix.

Other

Pre-tax loss from continuing operations decreased by $8 million in the second quarter of fiscal year 2013, primarily due to the Penson impairment charge of $10 million in the same period last year.

Financial Results for Year-to-Date Fiscal Year 2013

For the six months ended December 31, 2012, revenues increased $33 million, or 3%, to $989 million, compared to $956 million for the comparable period last year. The increase was driven by a positive contribution from recurring fee revenues of approximately $19 million including net new business, acquisitions, higher distribution revenues of $11 million and higher event-driven fee revenues of $5 million. GAAP pre-tax margins from continuing operations of 5.4% improved compared to 3.8% for the same period last year as a result of the $10 million Penson impairment charge and $7 million of IBM Migration costs in the same period last year. Non-GAAP pre-tax margins from continuing operations were 7.0% compared to 6.9% in the same period last year.

For the six months ended December 31, 2012, GAAP net earnings from continuing operations of $34 million increased 45% compared to $24 million in the comparable period last year. Non-GAAP net earnings from continuing operations were $44 million compared to $42 million in the comparable period last year. GAAP diluted earnings per share from continuing operations increased to $0.27 per share compared to $0.19 per share for the comparable period last year. Non-GAAP diluted earnings per share from continuing operations were $0.35 per share compared to $0.33 per share for the comparable period last year. The Penson impairment charge and IBM Migration costs decreased GAAP diluted earnings per share by $0.05 and $0.03, respectively in the same period last year.

During the first six months of fiscal year 2013, our recurring revenue closed sales of $34 million decreased 45% from last year's comparable period. Free cash flow was $55 million. In addition, the Company repurchased approximately 3.9 million shares of Broadridge common stock under its stock repurchase plan at an average price of approximately $23.44 per share, and there remain approximately 5.9 million shares available for purchase under the stock repurchase plan as of December 31, 2012.

Fiscal Year 2013 Financial Guidance

We are reaffirming our full year guidance. We anticipate recurring revenue growth in the range of 4% to 7% and total revenue growth in the range of 3% to 4%, GAAP earnings from continuing operations before income taxes margins in the range of 13.8% to 14.4%, and Non-GAAP earnings from continuing operations before income taxes margins in the range of 15.1% to 15.7%.

We anticipate GAAP diluted earnings per share from continuing operations in the range of $1.60 to $1.70, and Non-GAAP diluted earnings per share from continuing operations in the range of $1.76 to $1.86, based on diluted weighted-average shares outstanding of approximately 128 million shares. Our free cash flow is expected to be in the range of approximately $200 million to $250 million. Our recurring revenue closed sales are expected to be in the range of $110 million to $150 million.

The Non-GAAP earnings margins guidance range excludes the projected impact of Acquisition Amortization and Other Costs and restructuring charges. The Non-GAAP pre-tax earnings margins and diluted earnings per share guidance ranges increased from the guidance we provided in August 2012 as a result of the exclusion of the impact of Acquisition Amortization and Other Costs which was not excluded in the guidance we provided in August 2012. Our guidance does not take into consideration the effect of any future acquisitions, additional debt or share repurchases.

Description of Non-GAAP Adjustments:

Non-GAAP Measures

In certain circumstances, results have been presented that are not generally accepted accounting principles measures ("Non-GAAP") and should be viewed in addition to, and not as a substitute for, the Company's reported results. Net earnings, diluted earnings per share and pre-tax earnings margins excluding Acquisition Amortization and Other Costs, Restructuring and Impairment Charges and IBM Migration costs are Non-GAAP measures. These measures are adjusted to exclude costs incurred by the Company in connection with amortization and other charges associated with the Company's acquisitions, the termination of the Outsourcing Services Agreement with Penson and the migration of its data center to IBM, as Broadridge believes this information helps investors understand the effect of these items on reported results and provides a better representation of our actual performance. Free cash flow is a Non-GAAP measure and is defined as cash flow from operating activities, less capital expenditures and purchases of intangibles. Management believes this Non-GAAP measure provides investors with a more complete understanding of Broadridge's underlying operational results. These Non-GAAP measures are indicators that management uses to provide additional meaningful comparisons between current results and prior reported results, and as a basis for planning and forecasting for future periods. Accompanying this release is a reconciliation of Non-GAAP measures to the comparable GAAP measures.

Acquisition Amortization and Other Costs

Acquisition Amortization and Other Costs represents amortization charges associated with intangible asset values as well as other deal costs associated with the Company's acquisitions. Our Non-GAAP results exclude the impact of the costs the Company incurred in connection with acquisitions. The Acquisition Amortization and Other Costs are recorded in our Cost of revenues in the Condensed Consolidated Statements of Earnings for the three and six months ended December 31, 2012 and 2011, respectively.

Restructuring and Impairment Charges

For the three and six months ended December 31, 2012, there were $4 million in pre-tax charges primarily related to restructuring charges as a result of the termination of the Outsourcing Services Agreement with Penson. These charges are recorded in our Other segment and Cost of revenues in the Condensed Consolidated Statements of Earnings for the three and six months ended December 31, 2012.

In fiscal year 2012, Broadridge reviewed its investment in the Penson common stock for impairment during the second fiscal quarter ended December 31, 2011. Based on the Company's review, factoring in the level of decline in the fair value of the Penson common stock, management determined that the market value of the Penson common stock would not equal or exceed the cost basis of its investment within a reasonable period of time. After consideration of the severity and duration of this decline in fair value as well as the reasons for the decline in value, the Company recorded an other-than-temporary impairment charge of $10 million in the Other segment in the Condensed Consolidated Statements of Earnings at December 31, 2011, and established a new cost basis for this investment.

IBM Migration Costs

In March 2010, Broadridge entered into an Information Technology Services Agreement with International Business Machines ("IBM") under which IBM provides us with certain aspects of our information technology infrastructure. Our fiscal year 2012 Non-GAAP results exclude the impact of the costs the Company incurred in connection with the migration of our data center to IBM (the "Migration"). The Migration costs are recorded in our Other segment and Cost of revenues in the Condensed Consolidated Statements of Earnings for the six months ended December 31, 2011. The more significant mainframe Migration was successfully completed at the end of our 2012 fiscal year resulting in a pre-tax charge of $25 million.

Earnings Conference Call

An analyst conference call will be held today, Thursday, February 7th at 8:30 a.m. ET. A live webcast of the call will be available to the public on a listen-only basis. To listen to the webcast and view the slide presentation, go to www.broadridge-ir.com and click on the webcast icon. The presentation will also be available to download and print approximately one hour before the webcast. Broadridge's news releases, current financial information, SEC filings and Investor Relations presentations are accessible on the same website.

About Broadridge

Broadridge Financial Solutions, Inc. (NYSE: BR) is the leading provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge's investor communications, securities processing and operations outsourcing solutions help clients reduce their capital investments in operations infrastructure, allowing them to increase their focus on core business activities. With 50 years of experience, Broadridge's infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America, and processes more than $4.5 trillion in fixed income and equity trades per day. Broadridge employs approximately 6,200 full-time associates in 13 countries. For more information about Broadridge, please visit www.broadridge.com.

Forward-Looking Statements

This press release and other written or oral statements made from time to time by representatives of Broadridge may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature, and which may be identified by the use of words like "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be" and other words of similar meaning, are forward-looking statements. In particular, information appearing in the "Fiscal Year 2013 Financial Guidance" section are forward-looking statements. These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. These risks and uncertainties include those risk factors discussed in Part I, "Item 1A. Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended June 30, 2012 (the "2012 Annual Report"), as they may be updated in any future reports filed with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by reference to the factors discussed in the 2012 Annual Report. These risks include: the success of Broadridge in retaining and selling additional services to its existing clients and in obtaining new clients; Broadridge's reliance on a relatively small number of clients, the continued financial health of those clients, and the continued use by such clients of Broadridge's services with favorable pricing terms; changes in laws and regulations affecting the investor communication services provided by Broadridge; declines in participation and activity in the securities markets; overall market and economic conditions and their impact on the securities markets; any material breach of Broadridge security affecting its clients' customer information; the failure of Broadridge's outsourced data center services provider to provide the anticipated levels of service; any significant slowdown or failure of Broadridge's systems or error in the performance of Broadridge's services; Broadridge's failure to keep pace with changes in technology and demands of its clients; Broadridge's ability to attract and retain key personnel; the impact of new acquisitions and divestitures; and competitive conditions. Broadridge disclaims any obligation to update or revise forward-looking statements that may be made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events, other than as required by law.


                    Broadridge Financial Solutions, Inc.
                Condensed Consolidated Statements of Earnings
                   (In millions, except per share amounts)
                                 (Unaudited)

                                        Three Months         Six Months
                                      Ended December 31,  Ended December 31,
                                        2012      2011      2012      2011
                                     --------- --------- --------- ---------
Revenues                             $   493.2 $   479.8 $   989.0 $   956.2
                                     --------- --------- --------- ---------


Cost of revenues                         387.6     382.6     777.6     765.4
Selling, general and administrative
 expenses                                 77.2      73.5     150.1     138.2
Impairment charge                           --       9.7        --       9.7
Other expenses, net                        3.7       3.4       8.0       6.1
                                     --------- --------- --------- ---------
  Total expenses                         468.5     469.2     935.7     919.4
                                     --------- --------- --------- ---------

Earnings from continuing operations
 before income taxes                      24.7      10.6      53.3      36.8
Provision for income taxes                 8.9       3.8      19.2      13.3
                                     --------- --------- --------- ---------
Net earnings from continuing
 operations                               15.8       6.8      34.1      23.5
Loss from discontinued operations,
 net of tax benefit                         --        --        --        --
                                     --------- --------- --------- ---------
Net earnings                         $    15.8 $     6.8 $    34.1 $    23.5
                                     ========= ========= ========= =========

Basic Earnings per share:
Basic earnings per share from
 continuing operations               $    0.13 $    0.05 $    0.28 $    0.19
Basic loss per share from
 discontinued operations                    --        --        --        --
                                     --------- --------- --------- ---------
Basic earnings per share             $    0.13 $    0.05 $    0.28 $    0.19
                                     ========= ========= ========= =========

Diluted earnings per share:Diluted
 earnings per share from continuing
 operations                          $    0.13 $    0.05 $    0.27 $    0.19
Diluted loss per share from
 discontinued operations                    --        --        --        --
                                     --------- --------- --------- ---------
Diluted earnings per share           $    0.13 $    0.05 $    0.27 $    0.19
                                     ========= ========= ========= =========


Weighted-average shares outstanding:
  Basic                                  122.0     123.7     123.0     123.7
  Diluted                                125.5     127.2     126.3     126.9

Dividends declared per common share  $    0.18 $    0.16 $    0.36 $    0.32



                    Broadridge Financial Solutions, Inc.
                   Condensed Consolidated Balance Sheets
                  (In millions, except per share amounts)
                                (Unaudited)

                                                 December 31,    June 30,
                                                     2012          2012
                                                 ------------  ------------
Assets
Current assets:
  Cash and cash equivalents                      $      259.1  $      320.5
  Accounts receivable, net of allowance for
   doubtful accounts of $5.1 and $6.5,
   respectively                                         305.2         370.7
  Other current assets                                   89.3          86.2
                                                 ------------  ------------
    Total current assets                                653.6         777.4
Property, plant and equipment, net                       76.5          79.0
Goodwill                                                782.6         780.0
Intangible assets, net                                  126.8         143.3
Other non-current assets                                216.7         207.9
                                                 ------------  ------------
      Total assets                               $    1,856.2  $    1,987.6
                                                 ============  ============

Liabilities and Stockholders' Equity
Current liabilities:
  Accounts payable                               $       97.7  $      102.2
  Accrued expenses and other current liabilities        198.3         260.6
  Deferred revenues                                      48.4          47.5
                                                 ------------  ------------
    Total current liabilities                           344.4         410.3
Long-term debt                                          524.4         524.4
Deferred taxes                                           56.3          63.2
Deferred revenues                                        41.7          38.3
Other non-current liabilities                           106.0         100.9
                                                 ------------  ------------
      Total liabilities                               1,072.8       1,137.1
                                                 ------------  ------------

Commitments and contingencies

Stockholders' equity:
  Preferred stock: Authorized, 25.0 shares;
   issued and outstanding, none                            --            --
  Common stock, $0.01 par value: Authorized,
   650.0 shares; issued, 153.8 shares and 152.9
   shares, respectively; outstanding, 121.8 and
   124.8 shares, respectively                             1.5           1.5
  Additional paid-in capital                            769.1         739.4
  Retained earnings                                     676.3         686.1
  Treasury stock: at cost, 32.0 and 28.1 shares,
   respectively                                        (672.7)       (580.0)
  Accumulated other comprehensive income                  9.2           3.5
                                                 ------------  ------------
    Total stockholders' equity                          783.4         850.5
                                                 ------------  ------------

      Total liabilities and stockholders' equity $    1,856.2  $    1,987.6
                                                 ============  ============


                    Broadridge Financial Solutions, Inc.
                               Segment Results
                                (In millions)
                                 (Unaudited)

                                                     Revenues
                                     ---------------------------------------
                                         Three Months         Six Months
                                      Ended December 31,  Ended December 31,
                                     ------------------- -------------------
                                        2012      2011      2012      2011
                                     --------- --------- --------- ---------
Investor Communication Solutions     $   326.8 $   316.8 $   666.3 $   629.8
Securities Processing Solutions          163.8     161.1     317.7     319.5
Other                                       --       0.1        --       0.1
Foreign currency exchange                  2.6       1.8       5.0       6.8
                                     --------- --------- --------- ---------
  Total                              $   493.2 $   479.8 $   989.0 $   956.2
                                     ========= ========= ========= =========


                                 Earnings (Loss) from Continuing Operations
                                             before Income Taxes
                                 ------------------------------------------
                                     Three Months           Six Months
                                  Ended December 31,    Ended December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
Investor Communication Solutions $    16.5  $    10.6  $    43.7  $    19.0
Securities Processing Solutions       20.0       20.2       29.4       48.0
Other                                (15.1)     (22.7)     (27.0)     (35.6)
Foreign currency exchange              3.3        2.5        7.2        5.4
                                 ---------  ---------  ---------  ---------
  Total                          $    24.7  $    10.6  $    53.3  $    36.8
                                 =========  =========  =========  =========


                    Broadridge Financial Solutions, Inc.
                Reconciliation of Non-GAAP to GAAP Measures
                  (In millions, except per share amounts)

                                 Earnings from Continuing Operations before
                                                Income Taxes
                                 ------------------------------------------
                                     Three Months           Six Months
                                  Ended December 31,    Ended December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
Adjusted Earnings from
 Continuing Operations before
 Income Taxes (Non-GAAP)         $    34.1  $    30.4  $    68.9  $    66.1
Acquisition Amortization and
 Other Costs                          (5.8)      (6.4)     (11.3)     (12.7)
Restructuring and Impairment
 Charges                              (3.6)      (9.7)      (4.3)      (9.7)
IBM Migration Costs                     --       (3.7)        --       (6.9)
                                 ---------  ---------  ---------  ---------
Earnings from Continuing
 Operations before Income Taxes
 (GAAP)                          $    24.7  $    10.6     $ 53.3  $    36.8
                                 =========  =========  =========  =========
Pre-tax Margins (Non-GAAP)             6.9%       6.3%       7.0%       6.9%
Pre-tax Margins (GAAP)                 5.0%       2.2%       5.4%       3.8%


                                   Net Earnings from Continuing Operations
                                 ------------------------------------------
                                     Three Months           Six Months
                                  Ended December 31,    Ended December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
Adjusted Net Earnings from
 Continuing Operations (Non-
 GAAP)                           $    21.8  $    19.4  $    44.1  $    42.2
Acquisition Amortization and
 Other Costs, net of taxes            (3.7)      (4.0)      (7.2)      (8.1)
Restructuring and Impairment
 Charges, net of taxes                (2.3)      (6.2)      (2.8)      (6.2)
IBM Migration Costs, net of
 taxes                                  --       (2.4)        --       (4.4)
                                 ---------  ---------  ---------  ---------
Net Earnings from Continuing
 Operations (GAAP)               $    15.8  $     6.8  $    34.1  $    23.5
                                 =========  =========  =========  =========


                                 Diluted Earnings Per Share from Continuing
                                                 Operations
                                 ------------------------------------------
                                     Three Months            Six Months
                                    Ended June 30,      Ended December 31,
                                 --------------------  --------------------
                                    2012       2011       2012       2011
                                 ---------  ---------  ---------  ---------
Adjusted Diluted Earnings Per
 Share from Continuing
 Operations (Non-GAAP)           $    0.17  $    0.15  $    0.35  $    0.33
Acquisition Amortization and
 Other Costs, net of taxes           (0.03)     (0.03)     (0.06)     (0.06)
Restructuring and Impairment
 Charges, net of taxes               (0.01)     (0.05)     (0.02)     (0.05)
IBM Migration Costs, net of
 taxes                                  --      (0.02)        --      (0.03)
                                 ---------  ---------  ---------  ---------
Diluted Earnings Per Share from
 Continuing Operations (GAAP)    $    0.13  $    0.05  $    0.27  $    0.19
                                 =========  =========  =========  =========



                    Broadridge Financial Solutions, Inc.
                 Reconciliation of Non-GAAP to GAAP Measures
               EBIT from Continuing Operations Reconciliation
                                (In millions)

                                                 Q2 YTD         FY13
                                                  FY13      Guidance Range

                                                 Actual     Low       High
                                               --------- --------- ---------
EBIT (Non-GAAP)                                $   65    $   353   $   377
                                               ========= ========= =========
  EBIT Margins (Non-GAAP)                         6.6%      14.9%     15.7%
                                               ========= ========= =========
  Acquisition Amortization and Other Costs         11        22        22
  Interest and Other                               (7)      (17)      (21)
                                               --------- --------- ---------
Total EBT (Non-GAAP)                               69        358       378
                                               ========= ========= =========
  EBT Margins (Non-GAAP)                          7.0%      15.1%     15.7%
  Acquisition Amortization and Other Costs        (11)      (22)      (22)
  Restructuring Charges                            (4)      (10)      (10)
                                               --------- --------- ---------
Total EBT (GAAP)                                   53        326       346
                                               ========= ========= =========
  EBT Margins (GAAP)                              5.4%      13.8%     14.4%

NOTE: Amounts in this table may not sum to totals due to rounding.


                    Broadridge Financial Solutions, Inc.
                Reconciliation of Non-GAAP to GAAP Measures
                         Fiscal Year 2013 Guidance
                  (In millions, except per share amounts)

                                                               FY13
                                                        Guidance Range (a)
                                                             Low High
                                                       --------------------
Adjusted Earnings from Continuing Operations before
 Income Taxes (Non-GAAP)                               $     358  $     378

  Acquisition Amortization and Other Costs                   (22)       (22)
  Restructuring Charges                                      (10)       (10)

                                                       ---------  ---------

Earnings from Continuing Operations before Income
 Taxes (GAAP)                                          $     326  $     346
                                                       =========  =========

Pre-tax Margins (Non-GAAP)                                  15.1%      15.7%
Pre-tax Margins (GAAP)                                      13.8%      14.4%

                                                               FY13
                                                        Guidance Range (a)
                                                             Low High
                                                       --------------------
Adjusted Diluted EPS from Continuing Operations (Non-
 GAAP)                                                 $    1.76  $    1.86

  Acquisition Amortization and Other Costs                 (0.11)     (0.11)
  Restructuring Charges                                    (0.05)     (0.05)

                                                       ---------  ---------

Diluted EPS from Continuing Operations (GAAP)          $    1.60  $    1.70
                                                       =========  =========

(a) Guidance does not take into consideration the effect of any future acquisitions, additional debt and/or share repurchases.


                    Broadridge Financial Solutions, Inc.
                Reconciliation of Non-GAAP to GAAP Measures
                               Free Cash Flow
                               (In millions)

                                              Q2 YTD           FY13
                                               FY13     Guidance Range (a)

                                              Actual      Low        High
                                            ---------  ---------  ---------
Net Earnings from Continuing Operations
 (GAAP)                                     $      34  $     205  $     218
  Depreciation and amortization (includes
   other LT assets)                                48         95        105
  Stock-based compensation expense                 13         31         31
  Other                                            (5)        (5)         5
                                            ---------  ---------  ---------
Subtotal                                           90        326        359

  Working capital changes                          (1)       (15)       (15)
  Long-term assets & liabilities changes          (15)       (60)       (50)
                                            ---------  ---------  ---------

Net cash flow provided by continuing
 operating activities                              74        251        294

Cash Flows From Investing Activities
  Capital expenditures and software
   purchases                                      (19)       (55)       (45)
                                            ---------  ---------  ---------

Free cash flow (Non-GAAP)                   $      55  $     196  $     249
                                            =========  =========  =========

(a) Guidance does not take into consideration the effect of any future acquisitions, additional debt and/or share repurchases.

Contact Information
Investors:
David Ng
Broadridge Financial Solutions, Inc.
Senior Director, Investor Relations
(516) 472-5491

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SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
The best mobile applications are augmented by dedicated servers, the Internet and Cloud services. Mobile developers should focus on one thing: writing the next socially disruptive viral app. Thanks to the cloud, they can focus on the overall solution, not the underlying plumbing. From iOS to Android and Windows, developers can leverage cloud services to create a common cross-platform backend to persist user settings, app data, broadcast notifications, run jobs, etc. This session provides a high level technical overview of many cloud services available to mobile app developers, includi...
“In the past year we've seen a lot of stabilization of WebRTC. You can now use it in production with a far greater degree of certainty. A lot of the real developments in the past year have been in things like the data channel, which will enable a whole new type of application," explained Peter Dunkley, Technical Director at Acision, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will meet your customers' needs of tomorrow - today! Ciqada. Let your products take flight. For more inform...
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable older adults to live independent lives while staying connected to loved ones. M2M will continue to gr...
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) application providers dating back to 2004. Cybozu's kintone.com is a leading global BYOA (Build Your O...
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of Cloud and Mobile Strategy at GENBAND, will explore what is needed to take a real time communications ...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
SYS-CON Events announced today that GENBAND, a leading developer of real time communications software solutions, has been named “Silver Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. The GENBAND team will be on hand to demonstrate their newest product, Kandy. Kandy is a communications Platform-as-a-Service (PaaS) that enables companies to seamlessly integrate more human communications into their Web and mobile applications - creating more engaging experiences for their customers and boosting collaboration and productiv...
SYS-CON Events announced today that BroadSoft, the leading global provider of Unified Communications and Collaboration (UCC) services to operators worldwide, has been named “Gold Sponsor” of SYS-CON's WebRTC Summit, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BroadSoft is the leading provider of software and services that enable mobile, fixed-line and cable service providers to offer Unified Communications over their Internet Protocol networks. The Company’s core communications platform enables the delivery of a range of enterprise and consumer calling...
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to offer disruptive APIs to developers.
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquired by Aditi Technologies. He is a Microsoft Regional Director for Hyderabad, India, and one of the f...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal today!
So I guess we’ve officially entered a new era of lean and mean. I say this with the announcement of Ubuntu Snappy Core, “designed for lightweight cloud container hosts running Docker and for smart devices,” according to Canonical. “Snappy Ubuntu Core is the smallest Ubuntu available, designed for security and efficiency in devices or on the cloud.” This first version of Snappy Ubuntu Core features secure app containment and Docker 1.6 (1.5 in main release), is available on public clouds, and for ARM and x86 devices on several IoT boards. It’s a Trend! This announcement comes just as...
SYS-CON Media announced today that @ThingsExpo Blog launched with 7,788 original stories. @ThingsExpo Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @ThingsExpo Blog can be bookmarked. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago.
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Wearable technology was dominant at this year’s International Consumer Electronics Show (CES) , and MWC was no exception to this trend. New versions of favorites, such as the Samsung Gear (three new products were released: the Gear 2, the Gear 2 Neo and the Gear Fit), shared the limelight with new wearables like Pebble Time Steel (the new premium version of the company’s previously released smartwatch) and the LG Watch Urbane. The most dramatic difference at MWC was an emphasis on presenting wearables as fashion accessories and moving away from the original clunky technology associated with t...